The speaker of Libya's eastern-based parliament issued a decision on Sunday to reduce the tax on foreign currency purchases from 27% — a rate set in March — to 20%, as confirmed by parliament spokesman Abdullah Bliheg to Reuters. The revenue generated from the reduced tax will be allocated to pay down public debt, a statement from the parliament speaker said, indicating a shift in how the funds will be utilized.

Source: Libya Today October 06, 2024 13:15 UTC